Flanders is looking at savers to support the economy. Today tens of billions of euros are parked on savings books. Savers can invest profitably by setting up a wealth fund of half a billion. The Flemish government wants to use part of the public funds, but also expects private savers to participate because these shorses know that they have little to nothing at banks to get.
"With the new friends 'shares, we are encouraging friends and family to invest in SMEs, but also in cooperatives and citizens' initiatives, with a tax push," tweeted Hilde Crevits.
mobilization of Flemish savings
The Flemish government is going to set up a “welfare fund” to support companies in the longer term. Flemish Minister of Economy Hilde Crevits (CD&V) has announced this. The welfare fund of half a billion euros must be filled by 240 million from the government and the rest must be supplemented from private money. Individuals can subscribe to the fund at very favorable tax conditions. To this end, the government provides a tax benefit of 2,5 percent over three years, up to EUR 1.000, and an inheritance tax benefit.
“Today, tens of billions of euros are parked in savings accounts. With today's low interest rates, this hardly yields any returns. At the same time, we see that companies - especially with corona - yearn for long-term financing in order to be able to make a well-considered and sustainable restart ”, says Flemish Minister of Economy Hilde Crevits (CD&V).
no green or social demands
Green or social demands Flemish government not, but the “Flemish anchoring"Is important," said Crevits. Companies that want to use the new fund must of course meet specific conditions. Money will flow from the fund to companies that find it difficult to pay off their loans, or to provide new capital. The focus is on start-ups and innovative companies.
The Flemish government also stimulates "Win-win shares": You can invest up to a maximum of 75.000 euros directly in an SME, a citizens' initiative or a cooperative, and for this you will receive a tax benefit of five percent per year for five years. As a company, you can thus acquire a maximum of 2,5 euros in capital. A similar win-win loan previously existed and must then be repaid.
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